Investment Rating - The report maintains a rating of "Accumulate" for the company [1][6]. Core Views - The company has demonstrated resilience in profitability due to its cost advantages amidst industry clearing signs [1][3]. - The lithium battery industry is experiencing strong demand driven by the automotive market and global energy storage installations, leading to a significant increase in the company's lithium battery anode sales [2]. - The company is expanding its overseas operations with a new project in Malaysia, which is expected to enhance its competitive position in the international market [3]. - The report anticipates a recovery in the company's earnings and valuation from 2024 to 2026, supported by its strong market position and cost control capabilities [4]. Financial Summary - The company's revenue for 2022 was 4,782 million yuan, with a projected increase to 4,925 million yuan in 2024 and 6,112 million yuan in 2025, reflecting a growth rate of 12.2% and 24.1% respectively [1][6]. - The net profit attributable to the parent company was 1,289 million yuan in 2022, expected to rise to 746 million yuan in 2024 and 905 million yuan in 2025, with growth rates of 3.2% and 21.4% respectively [1][6]. - The company's EPS is projected to be 2.86 yuan in 2024 and 3.47 yuan in 2025, with corresponding P/E ratios of 21.3 and 17.5 [1][6]. - The gross margin for Q3 was reported at 24.72%, with a net margin of 14.49%, indicating a slight decline from previous quarters but still outperforming the industry [2].

北京市金杜律师事务所 关于石家庄尚太科技股份有限公司 2024 年第三次临时股东大会的法律意见书 致：石家庄尚太科技股份有限公司 北京市金杜律师事务所（以下简称本所）接受石家庄尚太科技股份有限公司 （以下简称公司）的委托，根据《中华人民共和国证券法》（以下简称《证券法》）、 《中华人民共和国公司法》（以下简称《公司法》）、《上市公司股东大会规则》（以 下简称《股东大会规则》）等中华人民共和国境内（以下简称中国境内，为本法律 意见书之目的，不包括中国香港特别行政区、中国澳门特别行政区和中国台湾地区） 现行有效的法律、行政法规、规章和规范性文件和现行有效的公司章程有关规定， 指派律师出席了公司于 2024 年 10 月 30 日召开的 2024 年第三次临时股东大会 （以下简称本次股东大会），并就本次股东大会相关事项出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1. 公司2024年8月15日刊登于深圳证券交易所网站（https://www.szse.cn） 的《石家庄尚太科技股份有限公司章程》（以下简称《公司章程》）； 2. 公司 2024 年 10 月 15 日刊登于 ...

证券代码：001301 证券简称：尚太科技 公告编号：2024-090 石家庄尚太科技股份有限公司 关于部分董事、监事和高级管理人员股份减持计划期限届 满暨实施情况的公告 1、齐仲辉先生、孙跃杰先生和王惠广先生减持股份情况 | 股东名称 | 减持方式 | 减持期间 | 减持均价 （元） | 减持股数 （万股） | 减持比例 | | --- | --- | --- | --- | --- | --- | | 齐仲辉 | 集中竞价 | 2024年8月15日至2024年 | 46.73 | 24 | 0.0920% | | | 交易 | 10月18日 | | | | | 孙跃杰 | 集中竞价 | 2024年8月15日至2024年 | 48.96 | 25.6 | 0.0981% | | | 交易 | 10月29日 | | | | | 王惠广 | 集中竞价 | 2024年9月9日至2024年9 | 40.67 | 2.5 | 0.0096% | | | 交易 | 月24日 | | | | 公司董事齐仲辉先生、监事孙跃杰先生、高级管理人员王惠广先生保证 向本公司提供的信息内容真实、准确、完整，没有虚假记载、误导性陈述或 ...

证券代码：001301 证券简称：尚太科技 公告编号：2024-089 石家庄尚太科技股份有限公司 回购报告书 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 特别提示： 除上述减持计划外，公司控股股东、实际控制人及其一致行动人、其他董事、 监事、高级管理人员、持股 5%以上股东回购期间及未来六个月暂无明确的减持 计划。若未来拟实施股份减持计划，公司将按相关规定及时履行信息披露义务。 敬请投资者注意投资风险。 4、本公司已在中国证券登记结算有限责任公司深圳分公司开立回购专用证 券账户。 5、相关风险提示： （1）本次回购股份存在回购期限内公司股票价格持续超出回购价格上限， 而导致回购方案无法实施或只能部分实施的风险； （2）若公司在实施回购股份期间，受外部客观环境变化、公司临时经营需 要、监管规则等因素影响，致使本次回购股份所需资金未能筹措到位或其他导致 公司决定终止本次回购方案的事项发生，可能存在回购方案无法实施或者部分实 施，或者根据相关规定调整或终止本次回购方案的风险； （3）因员工持股计划或股权激励未能经公司董事会和股东大会等决策机构 审议通过、激励对 ...

证券代码：001301 证券简称：尚太科技 公告编号：2024-088 石家庄尚太科技股份有限公司 2024 年第三次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 特别提示： 1、石家庄尚太科技股份有限公司（以下简称"公司"）于2024年10月15日在 巨潮资讯网（www.cninfo.com.cn）及《证券时报》《证券日报》《上海证券报》 《中国证券报》《经济参考报》刊登了《石家庄尚太科技股份有限公司关于召开 2024年第三次临时股东大会的通知》； 2、本次股东大会未出现否决议案的情形； 3、本次股东大会不涉及变更前次股东大会决议。 一、会议召开和出席情况 （一）会议召集人：公司董事会 （二）会议方式：采用现场会议与网络投票相结合的方式 1、现场会议召开时间：2024年10月30日（星期三）14:45。 2、网络投票时间：2024年10月30日 其中，通过深圳证券交易所交易系统进行投票的具体时间为：2024年10月30 日的交易时间，即9:15-9:25，9:30-11:30和13:00-15:00；通过深圳证券交易所互联 网投票系统 ...

Investment Rating - The report assigns an "Outperform" rating to the company for the first time, with a reasonable valuation range of 69.35 to 76.65 CNY per share, indicating a premium of 10% to 22% over the current stock price [6][4]. Core Insights - The company, Shangtai Technology, is a leading player in the lithium battery anode sector, with steady growth in performance in Q3 2024. The company achieved a revenue of 36.2 billion CNY in the first three quarters of 2024, a year-on-year increase of 14.2%, and a net profit of 5.78 billion CNY, up 1.72% year-on-year [1][16]. - The company has seen a significant increase in anode material sales, with a total of 148,000 tons sold in the first three quarters of 2024, representing a growth of over 55% year-on-year [2][22]. - The company is expanding its production capacity both domestically and internationally, with plans to increase its anode production capacity to 340,000 tons by the end of 2024 [3][7]. Summary by Sections Financial Performance - In Q3 2024, the company reported a revenue of 15.3 billion CNY, a year-on-year increase of 27% and a quarter-on-quarter increase of 24%. The net profit for the same period was 2.21 billion CNY, up 35% year-on-year and 6% quarter-on-quarter [1][16]. - The gross margin for Q3 2024 was 24.7%, reflecting a year-on-year increase of 2.1 percentage points, while the net margin was 14.5%, up 0.9 percentage points year-on-year [1][19]. Production and Sales - The company’s anode product sales reached approximately 64,000 tons in Q3 2024, with an estimated profit per ton of 3,400 to 3,500 CNY, although this represents a decrease of 8% to 10% from the previous quarter [2][22]. - The company is expected to continue its growth trajectory, with projected anode sales of 65,000 to 70,000 tons in Q4 2024 [2]. Capacity Expansion - By the end of 2023, the company’s domestic anode production capacity reached 240,000 tons, with plans for an additional 100,000 tons from the North Su Phase II project expected to be operational by the end of 2024 [3][7]. - The company is also establishing a subsidiary in Malaysia to build a 50,000-ton anode production facility, with an investment of approximately 1.54 billion USD (about 10.9 billion CNY) [3][7]. Market Outlook - The global demand for lithium battery anodes is expected to grow significantly, driven by the increasing production of electric vehicles and energy storage systems. The report forecasts that global anode shipments will rise from 910,000 tons in 2021 to 2,980,000 tons by 2030 [12][14]. - Shangtai Technology is positioned among the top five global anode manufacturers, holding a market share of 7.9% in 2023 and 8.8% in the first half of 2024 [14][15]. Profit Forecast - The company is projected to achieve net profits of 8.13 billion CNY, 9.53 billion CNY, and 11.27 billion CNY for the years 2024, 2025, and 2026, respectively, reflecting year-on-year growth rates of 13%, 17%, and 18% [4][25].

各位投资人大家晚上好我是东吴证券的电信首席曾朵红那非常欢迎大家来我们今天晚上组织的上海科技的三级报的业绩的交流会那我们非常荣幸邀请到公司的总理李总一起来交流 呃那周五晚上呢就是大家看到上海的三季度的一个啊情况整体的表现应该还是非常好的呃那呃我们今天的形式呢就先请呃李总啊就三季度的情况做一个简单的分享啊然后呢我们再去啊提问交流呃然后上半段也是一直是我们就是理念材料里面非常看好的标的啊嗯呃那因为整个盈利能力的这个 我先就我们三季度的三个报告简单一点我先做一点介绍 第一个我们三季度的那个这个销量是达到了6.45万吨前年的已经达到了14.83万吨那么其实我想比我们去年已经多了我们去年全年才14.09然后我们三季度的这个整个头三个季度来看同比增长还是超过55%也是基本上远超这个行业的一个远超行业平均增速的那个 一个一个速度然后我们现在的这个定流刃已经达到了这个5.7T那么那个已经就是我们今年来说头一季度二半年报都是这个低于去年三季度低于去年同比的同比下降一般在十个点左右吧十个点到几个点那么三季到了这个三季报一到九月我们就追上去年的业绩了实现了同比的一个正增长 然后我们这个营收也是营收增增的就更快一些营收增到了14点14 ...

Summary of Conference Call Company and Industry Overview - The conference call involved Shanghai Technology, focusing on the telecommunications sector and the company's third-quarter performance report [1][2]. Key Points and Arguments 1. **Sales Performance**: - The company achieved sales of 64,500 tons in Q3, a significant increase from 148,300 tons in the previous year, marking a year-on-year growth of over 55%, which outperformed the industry average [1][2]. 2. **Revenue Growth**: - Revenue for the first three quarters reached 3.6 billion, with Q3 showing a notable increase in sales volume, particularly in the energy storage segment, despite a 20% decline in prices affecting profit margins [1][2]. 3. **Product Structure**: - The product mix includes approximately 70% for power and 25-27% for energy storage, with fast charging accounting for about 25-26% of total sales [2][3]. 4. **Market Outlook**: - The company is optimistic about Q4, expecting to maintain sales above 60,000 tons, driven by strong demand and a favorable market environment [2][3]. 5. **Profit Margins**: - There was a slight decline in gross margins by 2 percentage points due to competitive pricing in the energy storage market, but overall profitability remains stable [1][2]. 6. **Capacity Expansion**: - The company is planning to expand production capacity, with expectations to start construction on a new project in Malaysia by spring next year, aiming for a total capacity of 50,000 tons by 2027 [7][10]. 7. **R&D Investment**: - R&D expenses have increased significantly as the company focuses on developing next-generation power and energy storage products, particularly in enhancing capacity and temperature performance [11][12]. 8. **Industry Trends**: - The industry is experiencing a shift towards higher capacity and faster charging solutions, with expectations for increased competition and potential price adjustments in the coming year [5][6]. 9. **Financial Health**: - The company reported an increase in inventory levels, attributed to external factors and outsourcing, but overall financial health remains robust with a focus on maintaining profitability [15][17]. 10. **Future Pricing Strategy**: - Discussions regarding pricing for the upcoming year are ongoing, with expectations that any adjustments will be gradual and based on market conditions [17]. Additional Important Insights - **Energy Consumption Concerns**: There are industry-wide concerns regarding energy consumption and potential regulatory impacts on production capacity, but the company does not foresee immediate drastic changes [4][5]. - **Competitive Landscape**: The competitive landscape is tightening, with larger firms benefiting from established customer channels, while smaller firms may struggle to secure funding and market share [4][6]. - **Long-term Projections**: The company anticipates a stable outlook for profitability in the coming year, contingent on maintaining current market conditions and effective cost management strategies [16][17]. This summary encapsulates the key discussions and insights from the conference call, highlighting the company's performance, market outlook, and strategic initiatives.

Group 1: Company Performance - In the first nine months of 2024, the sales volume of anode materials reached 14.83 million tons, a year-on-year increase of 55.29% compared to 9.55 million tons in the same period of 2023 [2] - Revenue for the first nine months of 2024 was 36.20 billion yuan, up 14.16% from 31.71 billion yuan in the same period of 2023 [2] - Net profit attributable to the listed company for the first nine months of 2024 was 5.77 billion yuan, a slight increase of 1.65% from 5.68 billion yuan in the same period of 2023 [2] Group 2: Asset Growth - Total assets increased from 74.18 billion yuan at the beginning of 2024 to 81.48 billion yuan by the end of September 2024, representing a year-on-year growth of 9.85% [1] - Net assets rose from 56.64 billion yuan at the beginning of 2024 to 60.44 billion yuan by the end of September 2024, reflecting a year-on-year increase of 6.70% [1] Group 3: Market Trends and Strategies - The company is focusing on the growing demand for new generation "fast charge" and "super charge" anode materials, with expectations for continued market activity in the energy storage battery sector [2][3] - The company plans to maintain full production capacity and expand its market share through differentiated product strategies and new product development [3][4] - The company is actively pursuing the establishment of its first overseas production base in Malaysia, considering factors such as transportation convenience and local economic conditions [4] Group 4: Industry Insights - The anode materials market is experiencing intense competition, with a noticeable polarization in capacity utilization rates among industry players [3] - Positive factors for the industry include a stable market share for leading companies and a slowdown in capacity expansion, indicating a potential balance in supply and demand [3]

证券代码：001301 证券简称：尚太科技 公告编号：2024-087 石家庄尚太科技股份有限公司 关于举办 2024 年三季度网上业绩说明会的公告 4、公司出席人员：公司董事长/总经理欧阳永跃先生、董事/副总经理/董事会 秘书李龙侠先生、财务总监王惠广先生、独立董事高建萍女士（具体参会人员以 当天实际出席人员为准）。 二、投资者问题征集及方式 为充分尊重投资者、提升交流的针对性，现就公司本次业绩说明会提前向投 资者公开征集问题，广泛听取投资者的意见和建议。投资者可于2024年10月31日 12:00前登录"互动易"平台"云访谈"栏目进入公司2024年三季度业绩说明会页 面进行提问。公司将在2024年三季度业绩说明会上，对投资者普遍关注的问题进 行回答。 欢迎广大投资者积极参与公司本次网上业绩说明会。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 石家庄尚太科技股份有限公司（以下简称"公司"）于2024年10月26日在巨 潮资讯网上披露了《2024年三季度报告》。为便于广大投资者更加全面深入地了 解公司经营业绩、发展战略等情况，公司将于2024年10月31日 ...